Question: Incorrect A product's price was $8, and its quantity demanded was 80 units. Then, the quantity demanded decreased by 20 units, while the product's

Incorrect A product's price was $8, and its quantity demanded was 80 units. Then, the quantity demanded decreased by 20 units, while the product's price increased by $7. Calculate the price elasticity of demand. Use the midpoint method in your calculations and enter your answer as a positive number in the box below, rounding to two decimal places if necessary.

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